OVERALL SENTIMENT

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Sentiment remains at POOR RISK-REWARD following Tuesday evening update .. It has more to do with being a bit extended here & until we get a drawdown or some sort of digestion, the indices remain a tough new entry up here for anything more than a quick tactical trade .. Individual names & sectors should remain our primary focus for finding some alpha & outperformance .. I would suggest being a bit more selective here & try to stick with fresh sweeper activity at solid spots .. Be smart on names that are a bit extended & up multiple days in a row .. I would also suggest any full positions you are currently holding, make sure you are ok & have the time to get through a potential flush if/when it shows up .. If not, make sure you plan accordingly by taking some profits, rolling out or putting on some cheap protection while you still can .. There’s also that possibility of melt-up mode as we discussed.. If that is the case, sweeper activity will trickle down into other groups & names that aren’t nearly as extended .. Those set ups would ultimately be the best r/r plays in either scenario for new entries anyway ..